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Why Citi Is Using Biometrics To Build Its ‘Security Perimeter’

PYMNTS

From company board rooms to airport boarding gates, the need for seamless authentication is putting biometrics front and center in varying use cases. With that shift, older authentication tools, such as physical tokens, are seeing a decline in use. Deep Dive: Banks Step into Authentication Roles.

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Video-Based KYC Fixes Its Gaze On Fraudsters

PYMNTS

As the new Digital Identity Tracker® states, “about 40 million bank customers in Thailand are expected to register for digital identity authentication under the country’s National Digital ID (NDID) program, which was recently expanded to more financial service providers. Seeing Is Believing.

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Getting Stimulus Funds To Those Who Need Them — Without The Paper Check

PYMNTS

As reported, those Americans with direct deposit account information stored with the Internal Revenue Service (IRS) — the conduit through which they get refunds — will get those payments within a few weeks after legislation is finalized and signed. When they haven’t been paid in a few weeks? They steal checks.

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Today In Payments: People Keep Saving Despite Low Interest Rates; Instacart IPO Could Come In Early 2021

PYMNTS

A Federal Reserve report indicated that commercial bank deposits were up roughly $13.2 trillion, despite a drop in interest rates on deposit accounts. trillion at the start of the year, hitting $15.9 Instacart IPO Could Come Early 2021 With $30B Valuation.

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Amount Selects ValidiFI to Enhance Digital Origination Solutions

Fintech Finance

Amount , a leader in consumer and small business deposit account opening and loan origination software, has selected ValidiFI , the leading provider of predictive bank account and payment intelligence, to enhance its digital origination capabilities.

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Financial Crime Fighters Unite Against Cybergangs

PYMNTS

A recent study from the American Bankers Association found that losses from fraud attempts against bank deposit accounts totaled $25.1 In other words, the financial industry — long suspicious of sharing anything with competitors — has had enough and it’s ready to work together. Like crooks do. “A billion in 2018, a jump from the $19.1

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Payment Platforms Evolving As Faster Payments Take Root

PYMNTS

The API model works to boost traditional companies’ digital presence, she explained, with a focus on authentication to help address concerns about security — especially as firms conduct identity verification and find out if an account used to fund transactions is legitimate.